Van ECK Associates Corp Has $14.08 Million Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Van ECK Associates Corp boosted its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 38.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,733,743 shares of the company’s stock after acquiring an additional 765,238 shares during the period. Van ECK Associates Corp owned 0.92% of Cipher Mining worth $14,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Financial Bankshares Inc bought a new position in Cipher Mining during the 4th quarter worth $9,901,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Cipher Mining by 30.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock valued at $185,000 after buying an additional 10,998 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Cipher Mining by 107.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock worth $2,862,000 after acquiring an additional 358,897 shares during the period. Shariaportfolio Inc. acquired a new stake in shares of Cipher Mining during the 4th quarter worth approximately $2,460,000. Finally, Wolverine Asset Management LLC acquired a new position in Cipher Mining during the fourth quarter valued at approximately $49,000. 12.26% of the stock is owned by institutional investors.

Cipher Mining Stock Performance

Shares of CIFR traded down $0.04 during mid-day trading on Friday, hitting $4.61. 5,992,105 shares of the company traded hands, compared to its average volume of 8,775,043. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 73.35 and a beta of 2.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08. The stock has a 50-day moving average price of $4.20 and a two-hundred day moving average price of $3.87. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $5.89.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%. The company had revenue of $48.14 million for the quarter, compared to the consensus estimate of $50.05 million.

Analyst Upgrades and Downgrades

CIFR has been the topic of several recent analyst reports. Cantor Fitzgerald assumed coverage on Cipher Mining in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a research report on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price target (up from $5.50) on shares of Cipher Mining in a research note on Wednesday, May 8th. Finally, HC Wainwright upped their target price on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Insider Buying and Selling

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 490,275 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $4.12, for a total value of $2,019,933.00. Following the completion of the sale, the insider now owns 110,520,831 shares in the company, valued at approximately $455,345,823.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 4,692,735 shares of company stock valued at $20,486,934. 2.25% of the stock is owned by corporate insiders.

Cipher Mining Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.